Health Insurance Premiums In Maine Set To Spike As Much As 27% In 2018

The healthcare debate has been at a fever pitch for all of 2017, with rhetoric from whichever side you're on reaching new heights. Despite defeat in their attempts to repeal and replace the current Affordable Care Act, the GOP may have done enough harm to push Americans over the edge as healthcare prices in Maine could spike as much as 27% in 2018.

According to the Bangor Daily News, Maine's insurance superintendent approved health insurance rate hikes that will land somewhere between 18 and 27 percent. That hike will affect any plans that roll through the Affordable Care Act, including those from Community Health Options, Anthem and Harvard Pilgrim.

So why is this happening? The shadow that President Trump has cast on the Affordable Care Act is one of the major reasons. Trump has repeatedly tweeted his desire to let the ACA "die", leaving insurers unsure how much risk they're willing to take on.

This will leave Maine residents who use the ACA in an unfortunate position. Even the lowest coverage plans may skyrocket out of affordability for cash strapped residents. Additionally, there's no guarantee that Congress will vote to continue to subsidize the ACA. That will be decided in September.